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JSFC Sistema (SSA)

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Friday 02 September, 2011

JSFC Sistema

Sistema Appoints Rafael Nagapetiants as Head of...

Sistema Appoints Rafael Nagapetiants as Head of Developing Assets Business Unit

JSFC Sistema

SISTEMA APPOINTS RAFAEL NAGAPETIANTS AS HEAD OF

DEVELOPING ASSETS BUSINESS UNIT

Sistema (LSE: SSA), the largest diversified public financial corporation in Russia and the CIS, today announced the appointment of Rafael Nagapetiants as Senior Vice-President, Head of Developing Assets Business Unit. Mr. Nagapetiants’ appointment is to be approved at the next meeting of the Board of Directors.

Rafael Nagapetiants’ Background:

- Prior to joining Sistema, since 2009, Mr. Nagapetiants was Managing Director and Head of Investment Banking at Societe Generale, Russia.

- From 2005 to 2008, he worked as Managing Director, Corporate Finance Department and Head of Investment Committee at Alfa Bank. At the same time, from 2007 to 2009, Mr. Nagapetiants served as Chairman of the Supervisory Board at Amtel-Vredestein.

- From 2001 to 2005, Mr. Nagapetiants was Director of SUN Capital Partners, a private equity fund in Russia.

- From 1994 to 2001, he worked as Vice President and Head of Investment and International Business at Inkombank.

- From 1991 to 1993, he served as Deputy Chairman of the Committee for Foreign Investments (later Russian Agency for International Cooperation and Development).

- From 1984 to 1990, Mr. Nagapetiants held various positions with the USSR Ministry of Finance.

Mr. Nagapetiants graduated from the Moscow Finance Institute with a degree in International Economics (1984) and from Lomonosov Moscow State University with a degree in Law (1995), as well as from the Amsterdam Institute of Finance (1996). Mr. Nagapetiants holds a Doctorate in Economics.

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For further information, please visit www.sistema.com or contact:

Investor Relations     Public Relations
Evgeniy Chuikov Vsevolod Sementsov
Tel.: +7 (495) 692 1100 Tel: +7 (495) 730 1705

ir@sistema.ru

pr@sistema.ru

Sistema is the largest diversified public financial corporation in Russia and the CIS, which invests in and is a major shareholder of companies serving over 100 million customers in the sectors of telecommunications, high technology, oil and energy, radars and aerospace, banking, retail, mass-media, tourism and healthcare services. Founded in 1993, the company reported revenues of US$ 7.8 billion for the first quarter of 2011, and total assets of US$ 46 billion as at March 31, 2011. Sistema’s global depository receipts are listed under the symbol “SSA” on the London Stock Exchange. Sistema’s ordinary shares are listed under the symbol “AFKS” on the RTS Stock Exchange, under the symbol “AFKC” on the MICEX Stock Exchange, and under the symbol “SIST” on the Moscow Stock Exchange (MSE). Sistema was ranked number 342 in the 2010 edition of the Fortune Global 500 list.

Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Sistema. You can identify forward looking statements by terms such as “expect,” “believe,” “anticipate,” “estimate,” “intend,” “will,” “could,” “may” or “might” the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. In addition, there is no assurance that the new contracts entered into by our subsidiaries referenced above will be completed on the terms contained therein or at all. We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with operating in Russia, rapid technological and market change in our industries, as well as many other risks specifically related to Sistema and its operations.

This document does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any shares or other securities of JSFC Sistema and/or any of its subsidiaries and affiliated companies, nor shall any part of it nor the fact of its distribution form part of or be relied on in connection with any contract or investment decision relating thereto, nor does it constitute a recommendation regarding the shares or securities of JSFC Sistema and/or any of its subsidiaries and affiliated companies.